Defaqto has acquired Pearson Ham’s market pricing business, which it said will strengthen its data and technology capabilities in the UK insurance and retail financial services industries. The £11m deal was completed through Defaqto’s parent company, Fintel plc.

The pricing business will continue to operate as its own entity in the immediate future and will be integrated into Defaqto later this year.

John Milliken, CEO of Defaqto, said: “The Pearson Ham Group pricing business is a profitable, growing, cash generative business with a rich historic data set and a strong value proposition that is invaluable to the UK insurance industry. “

He added: “This strategic move further reinforces Defaqto’s position within the personal lines insurance market, strengthening our role as a leading provider of market intelligence and technology.”